CIK 1427683
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2014-Q2. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Unclassified | 43.58% | 10 |
| Diversified Telecommunication Services | 37.57% | 1 |
| Metals & Mining | 18.85% | 4 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | SPOK | Spok Holdings, Inc | Communication Services | 37.57% |
| 2 | SLV | ISHARES SILVER TR | Unclassified | 12.48% |
| 3 | PAAS | PAN AMERICAN SILVER CORP | Materials | 10.56% |
| 4 | GLD | SPDR GOLD TR | Unclassified | 9.84% |
| 5 | IAU | ISHARES GOLD TRUST | Unclassified | 6.38% |
| 6 | AEM | AGNICO EAGLE MINES LTD | Materials | 3.49% |
| 7 | Vaneck Vectors Gold Miners ETF | Unclassified | 3.41% | |
| 8 | GOLDCORP INC NEW | Unclassified | 2.99% | |
| 9 | GORO | GOLD RESOURCE CORP | Materials | 2.79% |
| 10 | SPROTT PHYSICAL GOLD SILVER | Unclassified | 2.77% |
5/15 names classified · sector 56.4% of weight · industry 56.4% · mkt cap 42.4%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 56.4% of the book is sector-classified (unclassified names shown, never dropped).
Only 42% of book weight classified — the grid is NOT representative of the whole book.
Classified: 42.4% of book weight (3/9 names) · unclassified 57.6%: , SLV, PAAS, GLD, IAU, AEM. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | SPOKSPOK HLDGS INC | 1,977,291 | $26M | 37.6% | NEW |
| 2 | SLVISHARES SILVER TR | 522,616 | $9M | 12.5% | HOLD |
| 3 | PAASPAN AMERN SILVER CORP | 658,777 | $7M | 10.6% | HOLD |
| 4 | GLDSPDR GOLD TR | 57,976 | $7M | 9.8% | HOLD |
| 5 | IAUISHARES GOLD TRUST | 373,296 | $4M | 6.4% | HOLD |
| 6 | AEMAGNICO EAGLE MINES LTD | 82,230 | $2M | 3.5% | ADD 5% |
| 7 | Vaneck Vectors Gold Miners ETF | 109,353 | $2M | 3.4% | HOLD |
| 8 | GOLDCORP INC NEW | 88,859 | $2M | 3.0% | ADD 11% |
| 9 | GOROGOLD RESOURCE CORP | 373,078 | $2M | 2.8% | HOLD |
| 10 | SPROTT PHYSICAL GOLD SILVER | 153,997 | $2M | 2.8% | HOLD |
| 11 | ELDORADO GOLD CORP | 266,768 | $2M | 2.6% | HOLD |
| 12 | NEW GOLD INC CDA | 291,991 | $1M | 2.2% | HOLD |
| 13 | NEMNEWMONT CORP | 59,760 | $1M | 2.0% | HOLD |
| 14 | CENTRAL GOLDTRUST | 10,270 | $425,000 | 0.6% | HOLD |
| 15 | YAMANA GOLD INC | 36,910 | $221,000 | 0.3% | TRIM −79% |
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